October 22, 2016

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Mortgage Refinance Better Business Bureau Reliability Seal

When is it a good time to refinance your mortgage? If your existing mortgage rate is higher than the current rate for your credit score and mortgage type, you need to explore it. Would you like to lower your mortgage payment to make your house more affordable? Are you considering updates to a kitchen or a bathroom, and want to get some extra cash to afford them?

Refinance Now with
Lendingtree! Before you stop off at the local bank to discuss home refinancing you should consider comparing refinance options online. Just visiting your local bank won't give you your best rate, which means you'll pay more. Refinancing your home through an online mortgage refinance company lets you quickly find the best rate given your credit worthiness, loan size and type.

The best refinance companies allow several banks to compete for your loan, in order to provide you the lowest mortgage payment. They save you the hassle of calling several banks and lending institutions, and completing multiple refinance applications.

But not all online mortgage refinance brokers are the same. Before you start your search you should consider the following:

    Best Mortgage Refinance Companies
  • Number of Lenders.  How many banks and lenders does the company work with to find you the best rate? The larger the number, the more likely you'll receive the best rate.
  • Application process.  What is the process of gathering the information needed to begin the mortgage search?
  • Timeliness.  Are you going to have to wait for a call to discuss all of the necessary details, or will the online application expedite the process and provide you the details you're looking for? has reviewed and ranked the best online mortgage refinance providers available today. We hope these reviews help you as you decide to refinance your mortgage!


Mortgage Refinance Reviews

5 stars
Lending Tree

LENDING Best-In-Class Blue Ribbon Award

In business since 1996, Lending Tree has built a superior website that streamline the refinance process. The number of lender relationships, the helpful tools, the professionalism and additional services all make Lending Tree stand ahead of their competition. Read More... Visit

4 stars
Quicken Loans


Quicken Loans has a history of closing loans fast. Many loans close between 2-4 weeks, and are much quicker than the majority of lenders. We would have liked to have seen more information provided online, but we appreciate the solid reputation and excellent customer service at Quicken Loans.
Read More... Visit

3 stars
The Easy Loan Site


The Easy Loan Site is designed to match prospective clients with various mortgage refinance lenders. The process of searching for potential is straightforward but the website lacks all the bells and whistles that the higher ranked companies provide. Read More... Visit

3 stars
Loan App


In business since 1992, Loan App matches customers with up to 4 lenders to help meet their personal refinance needs. The Loan App website was missing important information about the company, the refinance process, the lender network and any associated fees. Read More... Visit

2 stars
Rate Marketplace


Rate Marketplace promises to match loan refinance companies with borrowers. However, what we found was that they simply sent us on to other mortgage referral companies. We felt this was both frustrating and a waste of our time. For those seeking assistance finding a competitive refinance loan, we recommend you choose a higher rated company on our list.
Read More... Visit

1.5 stars
Mortgage Search 123


Mortgage Search 123 lacked the necessary credentials and information we were looking for to become comfortable with providing them any of our personal information. We also didn't like that their only focus was on saving homes from foreclosure. Read More... Visit

1 star
Lower My Bills


Lower My Bills left us disappointed with the results their website provided. After taking the time to complete personal information regarding our mortgage, employment history and more we received four links to more websites where we had to start the inquiry process all over. Lower My Bills left us in the dark and wondering what they did with our personal information.
Read More... Visit

Tips on Refinancing Your Mortgage

Record low interest rates are pushing people to consider refinancing their home mortgages. There are several reasons to consider refinancing your home.

  • Lower your interest rate. With decreasing interest rates, you can lower your monthly payment and the amount you pay in interest over time on the amount of your mortgage. Once you refinance, it's easy to want to refinance every time the interest rates drop. However, by doing so, in the long run you will end up paying more in closing costs. Consider only financing when you can save 2 percent or more in interest.
  • Get a different type of loan. Your current mortgage may no longer be suitable or financially viable. For instance, if you currently have an Adjustable Rate Mortgage (ARM), you may want to switch to a Fixed Rate Mortgage to lock in low interest rates.
  • Rid yourself of a balloon payment. If your current mortgage requires payment of a large balloon payment at the end of a specified period of time, you may want to refinance and negotiate a different type of loan so that you're no longer required to pay a balloon payment.
  • Consolidate debt. With record low interest rates, now is an excellent time to refinance your mortgage and consolidate some of your other debt into a home loan with a lower interest. Other types of debt such as car loans, credit card bills and school tuitions, typically have higher interest rates than home mortgages. These, as well as other types of debt, can be rolled into your home mortgage allowing you to take advantage of the lower interest rates than what these loans have.
  • Cash in on home equity. You may want to refinance in order to get cash out of your home equity for large expenditures such as a child's college tuition, home remodeling projects or a new car purchase.

Homeowners may face many challenges in the refinancing process. Low credit scores and depreciating property values can keep you from getting the refinancing you desire.

Also, there are times when it is best not to refinance. For example, if you anticipate moving or selling your house before you experience significant savings from refinancing then it might not be the best time to refinance. On the same note, if you've paid into a 30-year mortgage for 15 years or more, and you're considering refinancing into another 30-year mortgage, refinancing may not be the right answer as this option may end up costing you more in the end.

Refinancing your mortgage can save you money. Be sure it's the right option for you by researching terms and interest rates online before you sign on the dotted line.


5 Things to Consider When Shopping for a Refinance Deal (It's Not as Scary as It Sounds!)

Shopping for a mortgage can be about as much fun as going to the dentist. And after going through it once, the thought of doing it all over again with a mortgage refinance might feel more akin, in fact, to getting a root canal. A long, complicated root canal.

Published:  Wed, 19 Oct 2016 01:00:00 GMT

Nigerian Mortgage Refinance Company holds 2nd AGM

The Nigerian Mortgage Refinance Company held its 2nd annual general meeting this week. Charles Okeahalam, the Chairman of the NMRC and Charles Inyangete, CEO of the NMRC joins CNBC Africa to discuss the NMRC's activities and the business environment for ...

Published:  Thu, 20 Oct 2016 04:33:00 GMT

14 banks inject EGP 4.1bn to finance low- and middle-income housing until end of October: Head of Mortgage Finance Fund

She noted that a number of companies, including the Egyptian Mortgage Refinance Co., will be joining the Central Bank of Egypt (CBE) in a mortgage financing initiative in the coming period. The MFF has obtained funding worth $125m from the World Bank ...

Published:  Thu, 13 Oct 2016 18:32:00 GMT

Nigerian Mortgage Refinance Company $64 million raise rekindles hope for low rate mortgage, affordable housing

Hope for low interest mortgage and affordable housing is creeping into the property market as the Nigerian Mortgage Refinance Company (NMRC) gets set to return to the capital market to issue fresh bond that will enable it to raise N20 billion for increased ...

Published:  Thu, 13 Oct 2016 04:19:00 GMT

Mortgage Rates Today, Friday, Oct. 21: Small Dip; Mortgage Refinancing Cooling Down

Mortgage application data shows that in comparison to this summer, mortgage refinance activity is indeed slowing, but compared to last year at this time, applications are up by around 30 percent. Freddie Mac expects $1 trillion in refinance mortgage ...

Published:  Fri, 21 Oct 2016 09:07:00 GMT

Citizens Financial Group's (CFG) CEO Bruce Saun on Q3 2016 Results - Earnings Call Transcript

The only other comment I'd make on the consumer fees is that the question sort of dismissed the growth that we've had in mortgage and, to some degree, like we saw everybody seeing strong mortgage refinance activity. But I don't want to quickly dismiss that ...

Published:  Fri, 21 Oct 2016 05:30:00 GMT

NMRC's N20bn Rekindles Hope for Low Rate Mortgage, Affordable Housing for Nigerians

Hope for low interest mortgage and affordable housing is creeping into the property market as the Nigerian Mortgage Refinance Company (NMRC) gets set to return to the capital market to issue fresh bond that will enable it to raise N20 billion for increased ...

Published:  Wed, 19 Oct 2016 03:22:00 GMT

Freddie Mac: Mortgage market soaring in 2016, will fall back in 2017

And as Freddie Mac notes, refinance activity is "rate sensitive," so any upward movement in rates will likely calm mortgage refinance activity. "Even if worldwide bond yields recover to the pre-Brexit status quo, mortgage interest rates are likely to ...

Published:  Thu, 20 Oct 2016 13:27:00 GMT

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